BEI INDEX SIGNIFICANTLY UP ON BLUE CHIP SHARE GAINS

Jakarta, May 4 (ANTARA) - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) significantly went up as internal positive sentiments encouraged investors to hunt blue chip and middle-cap shares.

The BEI index gained 44.834 points or 2.5 percent to 1,773.632 points, and the LQ-45 index jumped 9.970 points or 2.91 percent, to 352.422 points.

Several internal positive sentiments bolstered investors to purchase blue chip and middle-cap shares, boosting the BEI index to jump sharply, Harry Kurniawan, analyst of PT Bapindo Bumi Securities, said here on Monday morning.

The April 2009 inflation rate which was lower than March's inflation, and the country's improved economic performance also bolstered the market's bigger confidence, he said.

He estimated that if the favorable market condition continued, the BEI index could reach the level of 1,800 points.

The BEI index had a big chance to jump to the level of 1,800 points, he said.

The BEI index gains were also boosted by share advances at regional bourses, he said.

Astra Agro Lestari shares went up Rp850 to Rp18,050, Astra International shares jumped Rp750 to Rp18,450, ITMG shares added Rp550 to Rp15,600, and Bukit Asam shares rose Rp350 to Rp5,400 per share.

State telecommunication company PT Telkom shares advanced Rp250 to Rp8,000, Indosat shares went up Rp150 to Rp5,750 per share, United Tractor shares increased Rp200 to Rp9,500 per share, and Bumi Resources shares gained Rp100 to Rp1,6290 per share.

He said the chance for the Indonesian capital market to further advanced in the afternoon was still big, as the market's enthusiasm to buy shares was still high.

"We are optimistic that market players still hunt shares which are on demand, especially small-and-medium-cap shares which prices are still relatively small," he said.
The Indonesian currency on Monday morning traded at Rp10,465/10,475 per US dollar, up 120 points from Rp10,585/10,595 at the market's close last weekend.